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New Found Gold Corp V.NFG

Alternate Symbol(s):  NFGC

New Found Gold Corp. is a Canada-based mineral exploration company. The Company is engaged in the acquisition, exploration, and evaluation of resource properties with a focus on gold properties located in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Project, which comprises an approximately 1,662 square kilometers area, located about 15 kilometers (km) west of Gander, Newfoundland and Labrador, and just 18 km from Gander International Airport. The Queensway Project is divided by Gander Lake into Queensway North and Queensway South. The Company also owns a 100% interest in the Kingsway property, which consists of 264 claims on three licenses covering approximately 77 square kilometers. The project is located approximately 18km northwest of the town of Gander, Newfoundland. The Company is undertaking a 650,000-meter drill program on Queensway. It has royalty interests underlying Keats South and several additional zones in Queensway.


TSXV:NFG - Post by User

Comment by goldanalyston Sep 09, 2021 11:48am
171 Views
Post# 33833538

RE:Seems like the play is officially over

RE:Seems like the play is officially overI think I understand what you mean....you may have bought around $12+ and think that it's over because it is trading at $8. Losing 30-50% in a gold stock however is quite common even when you have a bonafide winner like NFG. It has been tax loss selling season for a while now and those who bought higher will conitue to sell until early December. Most gold stock have not kept up with the general market and so tax loss selling will be even worse this year. NFG could drfit back to $6 in the short term, however in the long term (3-5 years) I think this will be a $40 stock. The gold market is just brutal right now and likely for a while yet...that doesn't mean it's over....no where near over IMHO....bull markets end in euphoria not like this!!
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